Oil Giant Saudi Arabia Is Set to Start First Wind-Power Plant - Bloomberg:
Saudi Arabia, the world’s biggest oil exporter, is poised to start generating wind power within three years as part of an effort to harness renewable energy to cut local demand for fossil fuels.
The renewable energy units of Electricite de France SA and Abu Dhabi’s Mubadala Investment Co. completed arrangements with Saudi and international banks to finance the project, according to a statement from Masdar, as the Abu Dhabi business is known. Masdar didn’t identify the lenders.
EdF Renewables and Masdar won a contract in January to build the 400-megawatt Dumat Al Jandal facility, which is to begin producing electricity in the first quarter of 2022. The project will be the biggest wind-power plant in the Middle East when it begins producing, Masdar said.
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